Re: Question Regarding Chase and CLIs on more than 1 Card

Does anyone know the answer to this question:

Currently have 3 Chase Cards -- all super small limits comparatively. 2 are $500 (one was a Wamu Rewards) and one is Freedom. Both were opened in 2008. Would it be bad to close one and move the CL to the other? I just want to confirm this is possible that people have done it before. Do I need to convince the person to do it or is this common practice when someone asks?

Re: Question Regarding Chase and CLIs on more than 1 Card

KennyS2006 wrote:

Does anyone know the answer to this question:

Currently have 3 Chase Cards -- all super small limits comparatively. 2 are $500 (one was a Wamu Rewards) and one is Freedom. Both were opened in 2008. Would it be bad to close one and move the CL to the other? I just want to confirm this is possible that people have done it before. Do I need to convince the person to do it or is this common practice when someone asks?

I previously posted that you can do this.

Both accounts need to be in good standing to consolidate and the card that will be closed needs to have a 0 balance before you can shift the CL and then eventually close. The Freedom would be the better suited CC to keep as the Flexible Rewards has very limited or not-as-desirable reward options when compared to Freedom.

Re: Question Regarding Chase and CLIs on more than 1 Card

FinStar wrote:

KennyS2006 wrote:

Does anyone know the answer to this question:

Currently have 3 Chase Cards -- all super small limits comparatively. 2 are $500 (one was a Wamu Rewards) and one is Freedom. Both were opened in 2008. Would it be bad to close one and move the CL to the other? I just want to confirm this is possible that people have done it before. Do I need to convince the person to do it or is this common practice when someone asks?

I previously posted that you can do this.

Both accounts need to be in good standing to consolidate and the card that will be closed needs to have a 0 balance before you can shift the CL and then eventually close. The Freedom would be the better suited CC to keep as the Flexible Rewards has very limited or not-as-desirable reward options when compared to Freedom.

Right.... right now they are both Freedoms.. I knew you said it, but I wanted to make sure that there's no harm in closing it.. right now it seems there's no harm for keeping it either. Thanks for always responding. I try to be very cautious when it comes to making decisions so forgive me if I'm coming across as someone that is being annoying.

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.